Poland
CEE hotel deals put on hold amid coronavirus pandemic
After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.
IIF forecasts a contraction of -1.4% in CEE, -1.3% in Russia, but Turkish growth remains in the black in 2020
The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.
Is the pace of outflows from EMs starting to slow?
Equity and bond markets have been rocked by record volumes of outflows since the end of February in one of the biggest sell offs ever, but the pace of selling seems to be slowing in the last few days, said the Institute of International Finance (IIF)
Capital Economics slashes CEE growth forecasts for 2020 to -2% y/y
Economic consultancy Capital Economics has slashed its growth forecast for the Central and Eastern Europe (CEE) to a 2% y/y contractions from the previous 2.3% expansion in 2020, as a result of the coronavirus.
Coronavirus epidemic approaches exponential growth stage in some CEE countries
Cases have doubled in less than three days in several countries in the region, as governments desperately fight back with lockdowns.
Poland launches app to track people in coronavirus quarantine
Polish residents in home quarantine must take a selfie within 20 minutes of receiving an alert or face a visit from the police.
Citizens fear unscrupulous leaders will take advantage of lockdowns
Restricting social interaction is a vital part of the efforts to delay the spread of the coronavirus pandemic, but in some countries people fear politicians will use the opportunity for their own ends.
Poland’s coronavirus case toll races past 600 as state of epidemic kicks in
Sunday marked the end of the first full week of partial lockdown imposed by the government in an effort to keep the epidemic at levels manageable by the country’s underfunded and understaffed health care system.
Polish retail sales see off good times with growth 7.3% y/y in February
February marked a gain of 3.9pp in retail turnover growth in comparison to the y/y expansion recorded in January. That will be the last positive reading from the retail sector as March figures will tank as an effect of the coronavirus lockdown.
Coronavirus crisis to widen rich/poor gap within Central and Eastern Europe
Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.
Poland announces €47bn programme to support economy in wake of coronavirus outbreak
The government is reacting to the expected overwhelming impact that the outbreak is nearly certain to have on Poland’s economy in the months to come. Most analysts predict the country’s GDP growth to ease to no more than 2% in 2020 from 4% last year.
THE MITTELEUROPEAN VIEW: Looking for LUV — what shape will Europe’s recovery from this existential crisis be?
There is a new acronym in the economists' lexicon: VUCA. It is short for “Volatile, Uncertain, Complex and Ambiguous” as pundits are struggling to explain a crisis that is coming at us from all sides simultaneously.
Poland’s environment minister tests positive for coronavirus forcing tests for entire cabinet
Michel Wos testing positive and the need to test others led to delaying the March 17 meeting of the government at which details of an aid and stimulus package for the pathogen-stricken economy were to be discussed.
wiiw slashes 2020 growth forecast for CESEE to just 1.1%
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.
Polish inflation growth reaches likely peak at 4.7% y/y in February
The CPI will now begin its descent, as the radically altered macroeconomic environment in the aftermath of the coronavirus pandemic takes hold.
EBRD makes €1bn available as emergency measure to fight coronavirus impact
The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.
Polish schools and public facilities in lockdown as government steps up efforts to contain coronavirus epidemic
Closing down schools and other public spaces is a preventative measure so that Poland avoids a situation similar to the one currently unfolding in Italy, Prime Minister Mateusz Morawiecki told a press conference.
Poland confirms 17th coronavirus case amidst fears of epidemic’s profound economic impact
The government has introduced a number of preventive measures including sanitary checks at its borders to help contain the spread of the highly contagious virus, its impact now widely expected to hit the Polish economy hard.
Polish software maker SoftwareHut boasts one of the fastest expansion rates in Europe
Polish software developer SoftwareHut took 33rd place amongst European companies in the Financial Times' annual list of the fastest-growing 1,000 European companies.
CEE monthly bond wrap: CIS bond market off to a strong start in 2020
Bond markets in emerging Europe were off to a strong start in January but the impact of the coronavirus was already visible by February as bond issues began to drop off.